Cardamom futures edge lower on muted demand

New delhi: Cardamom prices drifted lower by 1.39 per cent to Rs 1,435.10 per kg in futures market today as traders trimmed their holdings amid sluggish demand at the spot market.

Besides, adequate stocks position following increased arrivals from producing regions too fuelled the downtrend.

At the Multi Commodity Exchange, cardamom for delivery this month declined by Rs 20.20, or 1.39 per cent, to Rs 1,435.10 per kg, in a business turnover of just two lots.

The spice for delivery in February was trading down by Rs 1.60, or 0.10 per cent, to Rs 1,500 per kg, with a trading volume of 92 lots.

Traders said, offloading of positions by participants amid sluggish demand in the spot market against adequate stocks position on higher supplies from producing belts, mainly led to the decline in cardamom prices at futures trade.